We review what discount received means in accounting and provide journal entry examples to explain.
This accounting tutorial looks into the journal entry required to correctly account for discount allowed; a common tool used to help business liquidity and solvency.
A warranty expense journal entry is created through the accounting for a warranty provision. As part of our accounting tutorial this article provides a full explanation with examples.
The issue of trade discount and cash discount (received and allowed) can cause some confusion in accounting, in particular with what journal entry to apply. Today’s short accounting tutorial will … Read More
This accounting tutorial covers an example journal entry when dealing with manufacturing overhead and accounts payable.
In this article, part of our accounting tutorial series, we review the journal entry required when an insurance premium is paid in advance. We have a quick look at what … Read More
In this article we answer a question from a reader who asked “what is the journal entry that records a dividend received or collected as cash into their bank account”. … Read More